31 July 2020
Projected growth in market for potato proteins
Amid the COVID-19 crisis, the global market for potato proteins is currently estimated to be US$75.4 million and is projected to reach a revised size of US$99 over the next seven years.
The potato protein market is now acknowledged to be driven by the growing vegan population and increasing health concerns among end users. The high nutritional profile of potato proteins is now widely acknowledged. Potatoes are considered to be a staple food in many countries and favoured by individuals who are allergic to foods allergensas they are not perceived to present a risk.
A recent 272-page report by global market research organisation ReportLinker reveals that the market will grow at aCAGR of 4% over the period 2020-2027. Concentrates, one of the segments analyzed in the report, is projected to record 4.7% CAGR and reach US$69.3million by the end of the analysis period.
After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the isolates segment is readjusted to a revised 2.7% CAGR for the next seven-year period.
The US market is currently estimated at $20.4 Million, while China is forecast to grow at 6.6% CAGR and China, the world's second largest economy, is forecast to reach a projected market size of US$20.4 million by the year 2027, trailing a CAGR of 6.7% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.3% and 3.2% respectively over the same seven-year period. Within Europe, Germany is forecast to grow at approximately 3% CAGR. The eighth edition of the report can be read in full by visiting www.reportlinker.com/p05900128/?utm_source=GNW